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WTI crude oil
The WTI crude oil market rebounded somewhat during Monday's trading session, with the $ 50 level providing enough support for people to enter the market. The amount of $ 50 is of course a psychologically important number, and I think the market is rebounding, but frankly, the rebound in the market will probably be an even shorter opportunity. However, if we go beyond the $ 57.50 level, we could go even higher. If the $ 60 level were to be broken, then we could get a serious upward momentum.
Brent
I believe Brent's markets are also looking to recover slightly and over-sell, but then they should find the depletion we could take advantage of again. However, attention needs to be paid to whether or not Saudi Arabia and the Russian government are starting to reduce their production. Given the collapse of the oil markets, one would think that we should hear it as soon as possible, but for now, we see no sign indicating that it is ready to occur, so in the meantime, I think you continue to: erase rallies that show signs of exhaustion. However, as soon as ministers start talking about cuts, I think this market is going to take off. Alternatively, if we could soften the US dollar a bit, it could also give a boost to the crude oil market.
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